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Hilton outdoes Twitter as world's largest hotel chain raises $2.35 billion in IPO
Reported by: Associated Press
Reported: Wednesday, December 11, 2013 5:08 PM EST
Hilton is back, and in a big way.
The payoff surpasses the $2.1 billion generated by Twitter's IPO last month. The biggest IPO of the year so far was Plains GP Holdings LP at $2.9 billion.
Hilton Worldwide Holdings Inc. is the world's largest hotel group, when measured by rooms, with 665,667 rooms across 90 countries and territories.
Blackstone Group LP, which led the $20 billion buyout of Hilton six years ago, is not selling any shares in the IPO, and will continue to hold majority voting power.